30. In case of failure of the buyer in installment of a residential house and lot for a period of five months, his grace period to pay without interest is: a. 30 days per year of payment b. 60 days grace period c. 15 days grace period d. 1 year grace period 31. Should a buyer of Real Estate installment failed to pay after 5 years of payment and he received a notarial notice of cancellation, he is entitled to the following except one: a. 30 days from receipt before the actual cancellation took effect b. Grace period of 60 days per year of payment c. Sell his right within the grace period d. 50% of the amount paid as refund, if the sale is actually cancelled 32. Redhibitory action, based on the defect of animals must be brought within what period from delivery to Vendee, otherwise prescribed. a. 60 days b. 40 days c. 1 year d. 1 week 33. In the case of the sale of Real Estate by a co-owner, the other co-owner should be given notice in writing by the vendor for this period for him to exercise his right of legal redemption. a. 1 year b. 30 days c. 6 months d. 3 months 34. It is a contract wherein another act in representation of another A. Sale B. Barter C. Exhange D. Agency 35. Under the Civil Code, implied or expressed warranties of the thing sold shall prescribed within what period from the date of delivery. a. 7 days b. 6 months c. 1 month d. 1 year 36. A special power to sell includes the power to mortgage a. This is true b. This is false c. Both A and B d. Neither A nor B 37. The following are exempted from liability against warranty of hidden defect. Except one. a. Sheriff b. Mortgagor c. Mortgagee d . Pledgee 38. For animals sold at public auction or sold as condemned a. a. Warranty against hidden defect b. Warranty against eviction c. Both A and B d. Neither A nor B 39. For Sale of Real Property due to tax delinquency, the period of redemption is a. 30 days from notice b. One Year from the public auction c. One Year from registration of sale at the Register of Deeds d. 30 days from notice 40. In case of conventional redemption of Real Estate the parties agreed that the property can be repurchased only after 25 years. The period of redemption is: a. Four years from date of contract b. 10 years from date of contract c. 25 years from date of contract d. 30 days after notice 41. Cedie appointed Recca as his agent with general power of on January 1, 2010. The next day, Ramil transacted business with Recca. On January 5, 2010, Cedie Revoked the agency and published it in a newspaper of general circulation. However, Ramil did not read the newspaper publication. After 5 days, (January 10) Ramil consummated another transaction with Recca. Is the act of Recca binding against Cedie? a. Yes, because Ramil is in good faith b. No, because the agency is considered revoke and its publication is a sufficient warning c. No, because the power is general, there must also be a special power d. Yes, because there was no special notice sent to Ramil 42. Bears risk of collecting from the buyer the price of the sale. a. Commission agent b. Delegacion c. Quasi-tradition d. Agente del credere 43. A special power of to sell includes the power to a. Mortgage b. Barter c. Sell on credit d. None of the above 44. P, the owner of a piece of residential land orally authorized A to sell the land for Php 500.00 with 5% commission. Today A sold the land to C. One day later P sold the sale land to D.Assuming that both buyers are in good faith, who is the lawful owner? a. C, being the first buyer b. C, because A was given authority by P c. D, because the sale made by A to C is only voidable d. D, because the sale between A and C is void 45. A commission agent: a. Has the option to act in his own name b. Generally, cannot sell on credit c. May be an agente del credere if he receives guaranty commission d. All of the above 46. The principal is not liable for the expense encured by the agent a. If the agent acted in contravention of the principal's instruction b. Expenses were due to the fault of the agent c. Agent incurred them knowing that an unfavorable result would ensue, and the principal was not aware thereof d. All of the above 47. P appointed A as his agent to sell his specific car in cash for Php 10,000.00 with 10% commission. A using persuasive skill was able to sell it for Php 15, 000.00 on credit. After the sale but before payment of the buyer. a. A must give Php 10,000.00 only b. A must give Php 10,000.00 minus the commission c. A must give Php 15,000.00 minus the commission d. A must give Php 15,000.00 and turn is to give A Php 5,000.00 as commission 48. A passenger bus while in motion collided with another bus. X, the conductor of the bus was bodily injured. D, the driver although not authorized, engage the services of a physician in the name of the company. In here, there is an. a. Implied Agency b. Agency by Estoppel c. Agency by necessity d. None of the above 49. Today, P appointed A1 his agent covered by general power to lease his car to X for 6 months. The next day, P, appointed A2 with special power to lease the same car to X for 5 months. On the third day, P directly transacted business with X leasing the car for 2 months. What is the effect of agency between the parties? a. The appointment of A1 is valid because is has got a prior date b. The appointment of A2 is the one that is valid because it is covered by a special power c. The agency of A1 and A2 are considered revoked because the principal directly transacted w/ X d. None of the above 50. Without P's authority, A (agent), sold P's car to X in P's behalf. The contract is. a. Unauthorized b. Unenforceable c. Subject to ratification d. All of the above d. All of the above